Mars to acquire U.S. operations of Doane Pet Care Company

MarkCotton

NEW YORK (MarketWatch) -- Mars Inc. and Doane Pet Care Co., a private label manufacturer of dry pet food said Wednesday they have entered into an agreement to acquire Doane's parent corporation, Doane Pet Care Enterprises Inc from Teachers' Private Capital. Teachers' is the private equity arm of Ontario Teachers' Pension plan. The two companies did not disclose the financial terms of the transaction. Under the deal, the acquisition will not include Doane's European business, which is being sold to a third party. The transaction is expected to be completed within the next several months. Mars said the acquisition is part of its strategy to strengthen and grow its pet care business in North America.

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